{"id":606159,"date":"2023-09-12T00:00:00","date_gmt":"2023-09-12T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=606159"},"modified":"2025-12-17T00:34:27","modified_gmt":"2025-12-17T00:34:27","slug":"the-iif-would-very-much-like-it-if-we-were-to-float-the-egp","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/the-iif-would-very-much-like-it-if-we-were-to-float-the-egp\/","title":{"rendered":"The IIF would very much like it if we were to float the EGP"},"content":{"rendered":"<section id=\"606161\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"606161\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">1<\/div>\r\n\r\n                    <p class=\"f-graphik\">What We're Tracking Today<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/09\/12\/china-wants-a-new-industrial-zone-in-egypt\/\">\r\n                            China wants a new industrial zone in Egypt \u2014 and fund investments in CNY                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/09\/12\/china-wants-a-new-industrial-zone-in-egypt\/\" target=\"_blank\">\n                    Open in new tab                    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data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/09\/12\/china-wants-a-new-industrial-zone-in-egypt\/839-jpg-5\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/9\/839.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"839.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/9\/839.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/9\/839.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-606161\" class=\"content-area-description single-story post-606161 post type-post status-publish format-standard has-post-thumbnail hentry category-what-were-tracking-today tag-egypt-china-relations tag-enterpriseam tag-investment-watch tag-teda-industrial-zone tag-what-were-tracking-today wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<aside>\t\t\t<div\r\n\t\t\t\t\t\t\t\tclass=\"newspack-popup-container newspack-popup hidden  newspack-inline-popup  newspack-lightbox-no-border   \"\r\n\t\t\t\trole=\"button\"\r\n\t\t\t\ttabindex=\"0\"\r\n\t\t\t\tstyle=\"background-color:#FFFFFF;color:#000\"\r\n\t\t\t\tid=\"id_27645\"\r\n\t\t\t\tdata-segments=\"\"\r\n\t\t\t\tdata-frequency=\"0,0,0,month\"\r\n\t\t\t>\r\n\t\t\t\t\n<div class=\"wp-block-group has-light-gray-background-color has-background\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-container-core-group-is-layout-ef38739e wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group is-content-justification-center is-nowrap is-layout-flex wp-container-core-group-is-layout-94bc23d7 wp-block-group-is-layout-flex\">\n<p class=\"f-graphik\" style=\"font-size:14px\">Together with<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27482.svg\" alt=\"\" class=\"wp-image-27482\"\/><\/figure>\n<\/div><\/div>\n<\/div><\/div>\n\t\t\t<\/div>\r\n\t\t<\/aside>\n<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/9\/.6ac88707-05bd-4371-b144-4c2753b40578.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Good morning, friends. The big stories this morning reflect the twin narratives of 2023. <\/strong> On the one hand: The Institute of International Finance is out with a paper suggesting that it\u2019s high time we move to a <strong> flexible exchange rate<\/strong>. On the other, we have signs that <strong> investment is picking up<\/strong>: There is more Chinese interest in opening up shop here \u2014 and word that an Emirati developer has pulled the trigger on a development in New Cairo with an investment cost of more than USD 1 bn. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Those narratives mesh nicely with one of the big themes of a briefing call we had yesterday ahead of next week\u2019s Enterprise Finance Forum. <\/strong>Two Egyptian leaders at large international businesses made a strong case for optimism about Omm El Donia as they described how their companies are now deploying more money and more people here. Why? We have plenty of talented people, a great geographical location, and a massive domestic market. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Yeah, but haven\u2019t those been our selling points forever? <\/strong>They have indeed. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> So, what\u2019s different? <\/strong>Even at the official rate, Egypt has become very attractively priced. \u201cMore cost competitive than India,\u201d one said yesterday \u2014 and it\u2019s far from the first time we\u2019ve heard that. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Want to hear their argument in detail? <\/strong>You\u2019ll have to attend the opening session of day two of our Enterprise Finance Forum, which takes place next Monday and Tuesday. (Details below, if you\u2019ve not already accepted your invitation or asked to receive one.)<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> WATCH THIS SPACE- <\/strong><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong> China is looking to expand its presence in Egypt in a big way: <\/strong> Some 10-15 Chinese companies have shown interest in establishing a specialized industrial zone for chemicals with investments worth USD 7.5-12 bn in CNY across the next 3-4 years, General Authority For Investment (GAFI) CEO Hossam Heiba told <a target=\"_blank\" href=\"https:\/\/bit.ly\/45Pj0XK\" style=\"\" rel=\"noopener\">Al M<\/a> <a target=\"_blank\" href=\"https:\/\/bit.ly\/45Pj0XK\" style=\"\" rel=\"noopener\">al<\/a> TV in an interview on Sunday (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=KkYaNwtVnR8\" style=\"\" rel=\"noopener\">watch, runtime: 48:50<\/a>). <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> TEDA 3x? <\/strong> Tianjin Economic-Technological Development Area, which established the TEDA industrial zone in Ain Sokhna in 2008, wants to acquire a land plot 3x the size of the current zone, Heiba added. TEDA Egypt is <a target=\"_blank\" href=\"https:\/\/eng.yidaiyilu.gov.cn\/p\/03D01IUN.html\" style=\"\" rel=\"noopener\">currently working on the second 6 square-km phase<\/a> of the TEDA zone, which will expand its total size to 7.3 sq-km.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Chinese currency for Chinese investments: <\/strong> Authorities could allow Chinese companies to make local investments in CNY, according to <a target=\"_blank\" href=\"https:\/\/tinyurl.com\/2u2fcpn5\" style=\"\" rel=\"noopener\">Heiba<\/a>, who told Al Mal that there is agreement between the GAFI and the Central Bank of Egypt to increase the use of the currency in Egypt. Talks are ongoing for the <a target=\"_blank\" href=\"https:\/\/www.cdb.com.cn\/\" style=\"\" rel=\"noopener\">China Development Bank<\/a> to set up a branch in Egypt, a move that would enable Chinese companies to access CNY in Egypt to fund local investments, he added.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Background: <\/strong>Chinese interest here comes as a growing number of manufacturers (Chinese and foreign alike) pivot to a \u201cChina +1\u201d strategy, moving into other geographies to reduce supply chain and geopolitical risk. HSBC Egypt CEO Todd Wilcox highlighted recent GAFI roadshows to China put on by HSBC, the takeaway from which, he wrote yesterday, was that investors \u201chighly \u2026 regard the future that exists for them in Egypt.\u201d <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e15e0a6b-2f8f-4ff5-953e-f158d38ee68e\" style=\"\" rel=\"noopener\">You can read Todd\u2019s column here.<\/a> <\/p><hr style=\"height:2px;border-width:0;color:gray;background-color:gray\"><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt2\"><\/a> <strong> PSA #1 <\/strong><strong> - <\/strong><strong> There are only <\/strong><strong> two days <\/strong><strong> left for Egyptians living abroad to settle <\/strong><strong> unfulfilled military <\/strong><strong> service obligations by paying a fee in FX. <\/strong>Folks looking to settle their national service obligation will need to deposit USD 5k \/ EUR 5k into a Banque Misr account at the bank\u2019s Abu Dhabi branch by Wednesday, 13 September. <a target=\"_blank\" href=\"https:\/\/www.tagneedinit.gov.eg\/\" style=\"\" rel=\"noopener\">Head here<\/a> for more information.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt3\"><\/a> <strong> PSA <\/strong><strong> #2 <\/strong><strong> - Niqab school ban: <\/strong>The Education Ministry has imposed a ban on female students wearing the niqab in schools from the beginning of the next term, according to a decision picked up by <a target=\"_blank\" href=\"https:\/\/bit.ly\/3PlNKsy\" style=\"\" rel=\"noopener\">state media<\/a>. The decision doesn\u2019t refer to the niqab specifically but instructs female students not to wear head coverings that obscure their faces.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> PSA #3- Storm Daniel to make landfall in Egypt: <\/strong> You may want to ready your umbrellas if you\u2019re on the north coast today as the lingering impact of Storm Daniel brings low-to-medium rain, according to the <a target=\"_blank\" href=\"https:\/\/bit.ly\/3sNeZ7J\" style=\"\" rel=\"noopener\">Egyptian Meteorological Authority<\/a>. Our favorite weather app suggests Cairo will get off with little more than cloudy skies this afternoon, with gusts of wind and a chance of showers, though there remains a risk of blowing sand throughout the day. The capital city will see daytime highs of around 33-34\u00b0C before dropping to 25\u00b0C tonight, according to the <a target=\"_blank\" href=\"https:\/\/bit.ly\/3r9Uf9C\" style=\"\" rel=\"noopener\">latest forecast<\/a>. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> We look set to get off lightly: <\/strong>Authorities in eastern Libya say that more than 2k people have died after Storm Daniel caused floods in the coastal town of Derna. A spokesperson for the Libyan National Army said that the storm had caused dams above the village to collapse, \u201csweeping whole neighborhoods\u201d into the sea. As many as 5-6k people are thought to be missing. (<a target=\"_blank\" href=\"https:\/\/apnews.com\/article\/derna-disaster-zone-libya-storm-daniel-floods-8fac4fe35b962242568ff219456c6870\" style=\"\" rel=\"noopener\">Associated Press<\/a> | <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/africa\/powerful-storm-rolls-through-eastern-libya-killing-least-three-2023-09-11\/\" style=\"\" rel=\"noopener\">Reuters<\/a> | <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/world\/africa\/libya-hit-by-deadly-storm-leaving-thousands-feared-dead-f5f4e7e9\" style=\"\" rel=\"noopener\">Wall Street Journal<\/a> | <a target=\"_blank\" href=\"https:\/\/www.thenationalnews.com\/mena\/2023\/09\/11\/one-dead-in-flooding-as-storm-daniel-hits-libya\/\" style=\"\" rel=\"noopener\">The National<\/a>)<\/p><hr style=\"height:2px;border-width:0;color:gray;background-color:gray\"><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt1\"><\/a> <strong> SIX DAYS TO GO until we see some of you at the Enterprise <\/strong><strong> Finance Forum, which takes place 18-19 September <\/strong>(Monday and Tuesday) at the St. Regis Hotel on the Nile Corniche. This flagship forum is the latest in our must-attend series of invitation-only events, where CEOs, bankers, investors, founders, and corporate leaders will meet to discuss the trends shaping the future of banking, finance, NBFIs, and fintech \u2014 and of their clients.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> What to expect: <\/strong> Join <strong> Sherif El Behery <\/strong> (CEO and managing director, MDI), <strong> Mohamed Mounir <\/strong> (deputy CEO, ValU), <strong> Tarek Shahin <\/strong>(chief investment officer, CI Asset Management),<strong> Himanshu Shrimali <\/strong> (co-founder and CEO, Menthum), <strong> Amro Abou <\/strong><strong> esh <\/strong> (founder, Maseera), <strong> Kamel Saleh <\/strong> (CEO, Grant Thornton Egypt) and many others for talks on everything from where the talent in our industry can be found, whether NBFIs are a bubble and the state of finance\u2019s professional services firms. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a target=\"_blank\" href=\"https:\/\/finance.enterprise.news\/index.html#agenda\" style=\"\" rel=\"noopener\">Tap or click here to view the FULL AGENDA with SPEAKERS.<\/a><\/strong><strong><a target=\"_blank\" href=\"https:\/\/finance.enterprise.news\/\" style=\"\" rel=\"noopener\"><\/a><\/strong><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> There will be plenty of parking available at the venue <\/strong> for all those attending. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> ** We are honored to count some of the region\u2019s most important financial institutions as <\/strong><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> our partners for this special event. <\/strong>The Enterprise Finance Forum could not take place without the support of our partners including Banque Misr, Al Baraka Bank, FAB Misr, HSBC, Mashreq, CI Capital, Global Corp, Visa, Hassan Allam Utilities, the IFC, and Post for Investment. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a href=\"https:\/\/finance.enterprise.news\/index.html#agenda\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/9\/802.jpg?ssl=1\"><\/a> <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> HAPPENING TODAY- <\/strong><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> EFG Hermes\u2019 Saudi Forum concludes today: <\/strong> It\u2019s the second and final day of the <a target=\"_blank\" href=\"https:\/\/ent.news\/2023\/9\/840.pdf\" style=\"\" rel=\"noopener\">EFG<\/a> <a target=\"_blank\" href=\"https:\/\/ent.news\/2023\/9\/840.pdf\" style=\"\" rel=\"noopener\">Hermes<\/a> <a target=\"_blank\" href=\"https:\/\/ent.news\/2023\/9\/840.pdf\" style=\"\" rel=\"noopener\">Saudi Forum (pdf<\/a> <a target=\"_blank\" href=\"https:\/\/ent.news\/2023\/9\/840.pdf\" style=\"\" rel=\"noopener\">)<\/a> in London, which brings together more than 50 companies from the KSA with major institutional investors from across the world. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt5\"><\/a> <strong> We\u2019ll get our first look at the new-look iPhone <\/strong>when Apple holds its annual product event. Expect updated iPhones, two refreshed watches, and a switch away Lightning ports to USB-C (thanks, European Union, for making all of our cables redundant). You can watch the event here at 8pm CLT on <a target=\"_blank\" href=\"https:\/\/www.apple.com\/apple-events\/\" style=\"\" rel=\"noopener\">Apple\u2019s website<\/a> or its <a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=ZiP1l7jlIIA\" style=\"\" rel=\"noopener\">Youtube channel<\/a>.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> PSA #4- It will likely be some time before you can get the new iPhone 15 models here in Egypt. <\/strong>Apple authorized resellers in Omm El Donia are still stuck moving small quantities of the iPhone 13 amid ongoing supply constraints thanks to (sing it with us, folks) the ongoing FX crunch.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Sahara expo: <\/strong> The <a target=\"_blank\" href=\"https:\/\/www.saharaexpo.com\/en\/home.html\" style=\"\" rel=\"noopener\">Sahara agriculture exhibition<\/a> concludes today at the Egypt International Exhibition Center (EIEC), showcasing agricultural machinery, water management systems, and post-harvest technologies.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt4\"><\/a> <strong> Looking to do your master\u2019s degree in the UK? <\/strong>Applications for the British government\u2019s Chevening scholarship open today at 12pm GMT. The scholarship offers full financial support for students to pursue an eligible master\u2019s degree at over 150 UK universities. The deadline for applications is 7 November. <a target=\"_blank\" href=\"http:\/\/www.chevening.org\/apply\" style=\"\" rel=\"noopener\">Apply here<\/a>.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> HAPPENING THIS WEEK- <\/strong><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> #1- The <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.hydrogenegypt.com\/\" style=\"\" rel=\"noopener\">Hydrogen Egypt Summit<\/a><\/strong> opens its doors at the Nile Ritz Carlton tomorrow. Local and global energy players will discuss how to realize Egypt\u2019s potential to become a regional green hydrogen hub. The event runs through to Thursday.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> #2- DEBT WATCH- Fresh securitizations from EFG Corp Solutions and Al Ahly <\/strong><strong> Tamkeen this week? <\/strong> That\u2019s according to an unconfirmed report from <a target=\"_blank\" href=\"https:\/\/www.alborsaanews.com\/2023\/09\/10\/1711187\" style=\"\" rel=\"noopener\">Al Borsa<\/a>, which said this week that:<\/p><ul>\n<li>The <strong> EFG Finance unit <\/strong> will sell about <strong> EGP 800 mn <\/strong> worth of bonds;<\/li>\n<li><strong> Al Ahly Tamkeen, <\/strong> the microlending unit of the National Bank of Egypt, will take about <strong> EGP 700 mn <\/strong> of bonds to market.<\/li>\n<\/ul><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> AND- There are more planned later this month: <\/strong> Valu, Arabia Investments Holding\u2019s UE Finance, and United Bank\u2019s United Finance are reportedly planning to go back to the market in September.<\/p><ul>\n<li><strong> Valu <\/strong> will look to sell <strong> EGP 1 bn <\/strong> of asset-backed securities before the end of the month, <a target=\"_blank\" href=\"https:\/\/bit.ly\/453iww9\" style=\"\" rel=\"noopener\">Al Mal<\/a> quotes CIO Shokry Bidair as saying.<\/li>\n<li><strong> UE Finance <\/strong> will hold a <strong> EGP 1 bn <\/strong> issuance while <strong> United Finance <\/strong> will securitize <strong> EGP <\/strong><strong> 700 mn <\/strong> of its leasing portfolio, according to <a target=\"_blank\" href=\"https:\/\/www.alborsaanews.com\/2023\/09\/11\/1711624\" style=\"\" rel=\"noopener\">Al Borsa<\/a>. <\/li>\n<\/ul><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> #3- New capital requirements for FX bureaus in play: <\/strong>Friday is deadline day for FX bureaus to comply with the central bank\u2019s strict <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5b6f9aa4-8ee9-4804-bc43-8e40fac6213c\" style=\"\" rel=\"noopener\">new capital requirements<\/a>. Under new rules aimed at curbing the resurgent parallel market, the central bank is raising the capital requirement for exchanges to EGP 25 mn from just EGP 5 mn currently.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> #4- US to make decision on military aid by Thursday: <\/strong>The US State Department is set to decide whether to withhold a portion of Egypt\u2019s annual USD 1.3 bn of military aid on human rights grounds by 14 September. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Remember: <\/strong> A number of Democratic lawmakers in the House and the Senate have called on the Biden administration in recent weeks to withhold a quarter of the USD 1.3 bn. This would be the third consecutive year that Egypt has had some of its military aid withheld: the Biden administration blocked Egypt from receiving <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/79ce7f1b-589c-431f-9ed7-47f9a283f787\" style=\"\" rel=\"noopener\">USD 130 mn of aid in 2021<\/a>, a figure that rose to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c733ad3a-76a6-47ff-8ae3-9c556e2214b0\" style=\"\" rel=\"noopener\">USD 205 mn<\/a> last year. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> #5- The National Dialogue: <\/strong> The National Dialogue is holding a new round of closed-door meetings this week to draft a new batch of recommendations. The group sent its <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c1df1c4a-b573-4fb1-881d-1fe4843f7657\" style=\"\" rel=\"noopener\">first batch of recommendations<\/a> to the president for approval last month.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> HAPPENING THIS MONTH- <\/strong><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> B Investments to acquire OFH: <\/strong> We\u2019re expecting B Investments to wrap up its acquisition of Orascom Financial Holding before the end of the month. The EGX-listed private equity firm will acquire OFH via a share swap transaction, which <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2e645d45-8b1e-4b12-b031-fddc5eb16c1a\" style=\"\" rel=\"noopener\">we learned in June<\/a> should be completed by the end of 3Q.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Two weeks and counting? <\/strong><a target=\"_blank\" href=\"https:\/\/www.alborsaanews.com\/2023\/09\/11\/1711610\" style=\"\" rel=\"noopener\">Al Borsa<\/a> reported yesterday that the transaction is expected to wrap within the next two weeks, with BDO, the financial advisor on the transaction, preparing to file the paperwork with the Financial Regulatory Authority. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/9\/842.jpg?ssl=1\"><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> THE BIG STORIES ABROAD- <\/strong><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> The aftermath of Saturday\u2019s devastating earthquake in Morocco <\/strong> continues to occupy the global front pages this morning, with the death toll climbing above 2.8k four days after the quake hit. Attention has shifted towards the slow pace of aid efforts in the remote Atlas mountains where thousands of people remain missing and thousands more homeless. (<a target=\"_blank\" href=\"https:\/\/apnews.com\/article\/morocco-earthquake-marrakech-fe5a0fbe71646f9b1b4f6a85889b414a\" style=\"\" rel=\"noopener\">Associated Press<\/a> | <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/africa\/rescuers-race-find-survivors-over-48-hours-after-morocco-quake-2023-09-11\/\" style=\"\" rel=\"noopener\">Reuters<\/a> | <a target=\"_blank\" href=\"https:\/\/apnews.com\/article\/morocco-earthquake-marrakech-fe5a0fbe71646f9b1b4f6a85889b414a\" style=\"\" rel=\"noopener\">Bloomberg<\/a> | <a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/2023\/09\/11\/world\/africa\/morocco-earthquake.html\" style=\"\" rel=\"noopener\">New York Times<\/a> | <a target=\"_blank\" href=\"https:\/\/www.washingtonpost.com\/world\/2023\/09\/11\/morocco-earthquake-rescue-recovery-aid\/\" style=\"\" rel=\"noopener\">Washington Post<\/a> | <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/world\/morocco-earthquake-death-toll-damage-12d6279f?mod=hp_lead_pos5\" style=\"\" rel=\"noopener\">Wall Street Journal<\/a>)<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Also worth noting internationally: <\/strong><\/p><ul>\n<li><strong> US moves to ease tensions with Iran: <\/strong> The Biden administration will release USD 6 bn of frozen Iranian funds in exchange for the release of five US prisoners<strong> . <\/strong>(<a target=\"_blank\" href=\"https:\/\/apnews.com\/article\/us-iran-prisoners-blinken-3e834df0a845ef2cc5c52af14598c66f\" style=\"\" rel=\"noopener\">Associated Press<\/a> | <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/us-allows-6-billion-transfer-part-iran-prisoner-swap-2023-09-11\/\" style=\"\" rel=\"noopener\">Reuters<\/a> | <a target=\"_blank\" href=\"https:\/\/www.washingtonpost.com\/national-security\/2023\/09\/11\/us-iran-prisoner-exchange\/\" style=\"\" rel=\"noopener\">Washington Post<\/a> | <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/ec46ce21-99c6-4547-b4aa-2fc4bd3a3f11\" style=\"\" rel=\"noopener\">Financial Times<\/a>)<\/li>\n<li><strong> The Turkish SBF will have to wait 11k years before his next crypto trade: <\/strong> A Turkish court has handed an 11,000-year sentence to the head of collapsed crypto exchange Thodex for a range of crimes including fraud and money laundering. (<a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-09-08\/turkish-crypto-boss-sentenced-to-over-11-000-years-in-prison#xj4y7vzkg\" style=\"\" rel=\"noopener\">Bloomberg<\/a>)<\/li>\n<li><strong> Speaking of SBF: <\/strong> His lawyers are asking the court to grant him pretrial release because the prison internet isn\u2019t good enough. The disgraced founder of imploded crypto exchange FTX was recently <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/be047636-d5af-4b67-a12a-db2f1031b7e2\" style=\"\" rel=\"noopener\">sent to jail<\/a> to await his October trial due to evidence he tried to tamper with witnesses. (<a target=\"_blank\" href=\"https:\/\/fortune.com\/crypto\/2023\/09\/09\/sam-bankman-fried-detention-center-laptop-internet-access\/\" style=\"\" rel=\"noopener\">Fortune<\/a>)<\/li>\n<\/ul><div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">\n   Get <b style=\"font-weight: 700\">Enterprise<\/b> daily<br>\n  <\/h4>\n<\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>  <a target=\"_blank\" href=\"egypt\/en\/user\/NewsLetters\" type=\"button \" class=\"btn-green px-3 d-flex align-items-center\" rel=\"noopener\">Subscribe here<\/a>\n <\/p><\/div>\n<\/div>\n<\/div><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> CIRCLE YOUR CALENDAR- <\/strong><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> National Investment Forum in 1H 2024 <\/strong><strong> : <\/strong>The government plans to hold an investment forum during the first half of 2024 aimed at attracting fresh investment into the economy, <a target=\"_blank\" href=\"https:\/\/bit.ly\/488bDfD\" style=\"\" rel=\"noopener\">cabinet<\/a> said yesterday, without disclosing a date.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> EEC <\/strong><strong> takes trade <\/strong><strong> roadshow to Iraq this month: <\/strong> The Engineering Export Council of Egypt will lead a trade mission consisting of 22 Egyptian companies to Iraq at the end of this month, it <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/watch\/?ref=saved&amp;v=1729635654151001\" style=\"\" rel=\"noopener\">said<\/a> yesterday. The participating companies, which operate across various sectors of the engineering industry, will target securing export deals with the Iraqi market. The mission will visit Erbil and Baghdad between 23 to 29 September. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a target=\"_blank\" href=\"https:\/\/enterprise.press\/am-edition\/#calendar\" style=\"\" rel=\"noopener\">Check out our full calendar on the web<\/a><\/strong> for a comprehensive listing of upcoming news events, national holidays and news triggers.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/enterprise.press\/wp-content\/uploads\/2021\/03\/INFINITY-Top-banner-EN-1600x675-v2-02.png\"><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> *** It\u2019s Going Green day \u2014 your weekly briefing of all things green in Egypt: <\/strong> Enterprise\u2019s green economy vertical focuses each Tuesday on the business of renewable energy and sustainable practices in Egypt, everything from solar and wind energy through to water, waste management, sustainable building practices and how you can make your business greener, whatever the sector.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> In today\u2019s issue: <\/strong>How will climate change impact Egypt\u2019s energy infrastructure?<\/p>\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egypt-china-relations\/\">Egypt-China relations<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/investment-watch\/\">investment watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/teda-industrial-zone\/\">TEDA industrial zone<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/what-were-tracking-today\/\">What We&#039;re Tracking Today<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"606163 advertiser\" class=\"issue-section enterprise-adv\">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                            \"\r\n            id=\"606163\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/09\/12\/606163\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-606163\" class=\"content-area-description single-story post-606163 post type-post status-publish format-standard hentry category-advertiser wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><span style=\"font-weight:400;\"><a href=\"https:\/\/somabay.com\/\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/9\/511.jpg?ssl=1\"><\/a><\/span><\/p><div class=\"grouped-tags\">\n<p><span style=\"\">We are proud to present Somabay's latest lifestyle app, powered by Quintessentially \u2014 bringing <\/span><span style=\"\">you a new era of ultimate luxury where you receive elevated access to a world of exclusive services and perks. All our homeowners now have the privilege of enjoying access to booking local and international restaurants, events, hospitality, and so much more, at the touch of a button no matter where they may be. Download our New Lifestyle App powered by Quintessentially <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/apps.apple.com\/eg\/app\/somabay-lifestyle\/id6457160123\" style=\"\">now in the App Store for iOS<\/a><\/span><span style=\"\">. <\/span><\/p>\n<\/div>\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"606164\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"606164\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">2<\/div>\r\n\r\n                    <p class=\"f-graphik\">Economy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/09\/12\/fully-flexible-exchange-rate-needed-to-counter-pressure-on-egp-iif\/\">\r\n                            Fully flexible exchange rate needed to counter pressure on EGP -IIF                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/09\/12\/fully-flexible-exchange-rate-needed-to-counter-pressure-on-egp-iif\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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Analysts at the institute blamed record <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/6d5ae4f7-5a23-4985-bc5f-c934914b69a5\" style=\"\" rel=\"noopener\">inflation<\/a> here at home, diminishing inflation amongst trading partners, and the fixed exchange rate for the overvaluation, which they say could widen to 20% by the end of 2024. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Remember: <\/strong>The EGP-USD exchange rate has remained pegged at EGP 30.96 since March after a series of devaluations that saw the local currency lose almost half of its value against the greenback. The parallel market rate, meanwhile, currently stands around 30% above the official rate, according to the IIF. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> The solution? A full float of the EGP, says the IIF: <\/strong>The data \u201cstrengthen[s] the argument in favor of a floating exchange rate, a policy shift that would, if accompanied by tighter policies, help bring Egypt one step closer towards macroeconomic stability,\u201d the analysts wrote. The IIF had previously called on policymakers to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e83e3555-ce40-4135-bda6-891e843b60c3\" style=\"\" rel=\"noopener\">adopt a fully flexible exchange rate<\/a> and eliminate the parallel market to help rebuild depleted FX reserves. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> The IMF concurs: <\/strong>Many market-watchers are expecting a further devaluation of the EGP in tandem with the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b5a8ca2c-babc-4c88-a225-be324950f8d3\" style=\"\" rel=\"noopener\">IMF\u2019s anticipated review<\/a> of our USD 3 bn loan, under which the government agreed to shift to a fully flexible exchange rate. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Devaluations help \u2014 but they don\u2019t go far enough: <\/strong> One-off devaluations of the exchange rate starting in 2016 have helped alleviate pressure on the EGP in the short term, bringing the official rate in line with the real rate, the IIF says. However, \u201cbottlenecks in the economy, poor monetary policy transmission, subsidized lending, and expansionary fiscal policies\u201d soon reintroduce pressure that drives up the real rate, leading to the need for another devaluation and \u201cstarting the cycle all over,\u201d the report says.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> A float isn\u2019t a silver bullet \u2014 but it goes \u201ca long way\u201d: <\/strong>Even in the absence of other policy reforms, a move to a full float \u201cwould allow the real exchange rate to fall closer to its fair value level, benefitting the export sector, reducing the current deficit, helping bring in capital, and taking Egypt one step closer towards macroeconomic stability,\u201d the analysts wrote. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> What\u2019s the IIF, again? <\/strong>It styles itself as the global industry association for the finance industry and counts commercial and investment banks, asset managers, sovereign wealth funds, hedgies and central banks (among others) as members.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/economy\/\">economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/exchange-rate\/\">exchange rate<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/foreign-exchange\/\">foreign exchange<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/institute-of-international-finance\/\">Institute of International Finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"606166\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"606166\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">3<\/div>\r\n\r\n                    <p class=\"f-graphik\">Real estate<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/09\/12\/state-fund-offers-egp-15-bn-buy-heliopolis-housings-heliopark\/\">\r\n                            Egyptian state insurance fund offers EGP 15 bn to buy Heliopark real estate project                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/09\/12\/state-fund-offers-egp-15-bn-buy-heliopolis-housings-heliopark\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/2023\/09\/12\/state-fund-offers-egp-15-bn-buy-heliopolis-housings-heliopark\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/egypt\/2023\/09\/12\/state-fund-offers-egp-15-bn-buy-heliopolis-housings-heliopark\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=State fund offers EGP 15 bn buy Heliopolis Housing\u2019s Heliopark&url=https:\/\/enterpriseam.com\/egypt\/2023\/09\/12\/state-fund-offers-egp-15-bn-buy-heliopolis-housings-heliopark\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2023\/09\/12\/state-fund-offers-egp-15-bn-buy-heliopolis-housings-heliopark\/&title=State fund offers EGP 15 bn buy Heliopolis Housing\u2019s Heliopark\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=State+fund+offers+EGP+15+bn+buy+Heliopolis+Housing%E2%80%99s+Heliopark+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2023%2F09%2F12%2Fstate-fund-offers-egp-15-bn-buy-heliopolis-housings-heliopark%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/09\/12\/state-fund-offers-egp-15-bn-buy-heliopolis-housings-heliopark\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/9\/826.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"606167\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/09\/12\/state-fund-offers-egp-15-bn-buy-heliopolis-housings-heliopark\/826-jpg-5\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/9\/826.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"826.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/9\/826.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/9\/826.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-606166\" class=\"content-area-description single-story post-606166 post type-post status-publish format-standard has-post-thumbnail hentry category-real-estate tag-enterpriseam tag-heliopark tag-heliopolis-housing-and-development tag-national-organization-for-social-insurance tag-real-estate wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/9\/.35112162-ae9a-46e5-a490-ab660c475706.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong> We now know how much Heliopolis Housing could be getting for Heliopark: <\/strong>The state-owned National Organization for Social Ins (NOSI) is offering Heliopolis Housing and Development (HHD) EGP 15 bn to buy 100% of the land allocated to the Heliopark project, the developer said in <a target=\"_blank\" href=\"https:\/\/ent.news\/2023\/9\/816.pdf\" style=\"\" rel=\"noopener\">a bourse filing (pdf)<\/a> yesterday. HHD shareholders will meet at an ordinary general assembly on Saturday, 7 October to consider the offer, the company said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> The details: <\/strong>NOSI would make the one-time payment of EGP 15 bn on signing final contracts, minus the cost of raising the permitted height of the development by two additional floors and switching its planned connection to the electrical grid from overhead to underground cables, per the EGX filing. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> REMEMBER- <\/strong>NOSI submitted an offer for Heliopark <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/15d094ab-50b9-4310-ac41-7de11a6b0695\" style=\"\" rel=\"noopener\">over the summer<\/a> after HHD <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4e87b35d-4713-4013-9caf-d8e646042878\" style=\"\" rel=\"noopener\">scrapped<\/a> a partnership agreement to co-develop the project with Mountain View, citing the current economic conditions and rising land valuations. HHD had also reportedly been in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/15d094ab-50b9-4310-ac41-7de11a6b0695\" style=\"\" rel=\"noopener\">talks<\/a> with an undisclosed Gulf investor to co-develop the project, with the UAE\u2019s Aldar Properties being the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d4ea9761-c828-4ec2-9166-2707441b4c34\" style=\"\" rel=\"noopener\">rumored<\/a> bidder. It is unclear what a possible NOSI acquisition of the Heliopark project would mean for Gulf involvement in the project and whether talks are still in progress. <\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/heliopark\/\">Heliopark<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/heliopolis-housing-and-development\/\">Heliopolis Housing and Development<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/national-organization-for-social-insurance\/\">National Organization for Social Insurance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/real-estate\/\">real estate<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"606168\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"606168\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">4<\/div>\r\n\r\n                    <p class=\"f-graphik\">Real estate<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/09\/12\/uae-developer-launches-egp-36-bn-new-cairo-real-estate-project\/\">\r\n                            UAE developer launches EGP 36 bn New Cairo real estate project                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/09\/12\/uae-developer-launches-egp-36-bn-new-cairo-real-estate-project\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/2023\/09\/12\/uae-developer-launches-egp-36-bn-new-cairo-real-estate-project\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/egypt\/2023\/09\/12\/uae-developer-launches-egp-36-bn-new-cairo-real-estate-project\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=UAE developer launches EGP 36 bn New Cairo real estate project&url=https:\/\/enterpriseam.com\/egypt\/2023\/09\/12\/uae-developer-launches-egp-36-bn-new-cairo-real-estate-project\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2023\/09\/12\/uae-developer-launches-egp-36-bn-new-cairo-real-estate-project\/&title=UAE developer launches EGP 36 bn New Cairo real estate project\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=UAE+developer+launches+EGP+36+bn+New+Cairo+real+estate+project+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2023%2F09%2F12%2Fuae-developer-launches-egp-36-bn-new-cairo-real-estate-project%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/09\/12\/uae-developer-launches-egp-36-bn-new-cairo-real-estate-project\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/9\/811.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"606169\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/09\/12\/uae-developer-launches-egp-36-bn-new-cairo-real-estate-project\/811-jpg-10\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/9\/811.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"811.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/9\/811.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/9\/811.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-606168\" class=\"content-area-description single-story post-606168 post type-post status-publish format-standard has-post-thumbnail hentry category-real-estate tag-enterpriseam tag-horizon-egypt-developments tag-real-estate tag-uae wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/9\/.9f041ff3-8e21-428f-a4de-941e44dfaff2.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong> UAE developers launch EGP 36 bn project in New Cairo: <\/strong><a target=\"_blank\" href=\"https:\/\/horizon-egy.com\/#navbar-offcanvas\" style=\"\" rel=\"noopener\">Horizon Egypt<\/a> <a target=\"_blank\" href=\"https:\/\/horizon-egy.com\/#navbar-offcanvas\" style=\"\" rel=\"noopener\">Developments<\/a> \u2014 a real estate firm backed by UAE investors \u2014 last week unveiled its maiden real estate project, dubbed <a target=\"_blank\" href=\"https:\/\/saadanewcairo.com\/\" style=\"\" rel=\"noopener\">Saada New Cairo<\/a>, according to local media reports. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> About the project: <\/strong>The multi-use Saada development is set to cost some EGP 36 bn in initial investment. The 370-feddan plot in New Cairo will feature 1.3k villas, two hotels, 250 serviced apartments, an international school, a club, a mall, and a commercial and administrative area. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Horizon? <\/strong>The company is owned by the UAE\u2019s Sheikh Majid Bin Saeed Al Nuaimi, a member of the Ajman royal family and head of the emirate\u2019s court. It also counts Abdullah and Adnan Saffarini of Dubai-based architect and engineering consultant firm Adnan Saffarini Group among its founders, according to the company\u2019s <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/company\/horizon-egypt-developments\/?originalSubdomain=eg\" style=\"\" rel=\"noopener\">LinkedIn<\/a> page.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Timeline: <\/strong>Reservations open this month for the first phase of the project, which includes 282 villas and has already been completed. Horizon has signed with Saudi firm <a target=\"_blank\" href=\"https:\/\/www.misshal.com\/index-en.html\" style=\"\" rel=\"noopener\">Abdulla Al-Mis\u2019hal Contracting<\/a> to construct the project\u2019s remaining phases, which is expected to take four to five years.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/horizon-egypt-developments\/\">Horizon Egypt Developments<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/real-estate\/\">real estate<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/uae\/\">UAE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"606170\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"606170\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">5<\/div>\r\n\r\n                    <p class=\"f-graphik\">Moves<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/09\/12\/world-bank-appoints-new-country-head-for-egyptyemen-djibouti\/\">\r\n                            World Bank appoints new country head for Egypt,Yemen + Djibouti. PLUS: New appointments at Orascom Development and Heliopolis Housing                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/09\/12\/world-bank-appoints-new-country-head-for-egyptyemen-djibouti\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/9\/829.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"829.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/9\/829.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/9\/829.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-606170\" class=\"content-area-description single-story post-606170 post type-post status-publish format-standard has-post-thumbnail hentry category-moves tag-development-finance tag-enterpriseam tag-heliopolis-housing-and-development tag-marina-wes tag-moves tag-orascom-development tag-orascom-hotels-management tag-real-estate tag-stephane-guimbert tag-world-bank wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/9\/.9f041ff3-8e21-428f-a4de-941e44dfaff2.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> A NEW WORLD BANK EGYPT CHIEF- <\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong> The World Bank <\/strong> has appointed <strong> Stephane Guimbert <\/strong> (<a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/stephane-guimbert-a321b1\/\" style=\"\" rel=\"noopener\">LinkedIn<\/a>) as <strong> country <\/strong><strong> director for <\/strong><strong> Egypt, Yemen and Djibouti<\/strong>, effective 1 August. Guimbert has worked at the World Bank for the past 22 years and has occupied senior positions at the lender and its sister financial institution, the International Bank for Reconstruction and Development. He comes to Cairo after serving as a director of operations policy in Washington.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">Guimbert replaces <strong> Marina Wes <\/strong> (<a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/marina-wes\" style=\"\" rel=\"noopener\">LinkedIn<\/a>) who had headed up the World Bank\u2019s operations in Cairo since 2019. She has moved to Brussels to serve as the Bank\u2019s <strong> country director for the EU<\/strong>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> NEW CEO FOR ORASCOM DEVELOPMENT\u2019S HOTELS DIVISION- <\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Orascom Development <\/strong> has appointed <strong> Stuart Leven <\/strong> (<a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/stuartleven\/\" style=\"\" rel=\"noopener\">LinkedIn<\/a>) as the new <strong> CEO <\/strong> of <strong> Orascom Hotels Management <\/strong> (OHM), the developer said in <a target=\"_blank\" href=\"https:\/\/ent.news\/2023\/9\/809.pdf\" style=\"\" rel=\"noopener\">a press release (pdf)<\/a>. Leven has a decade of experience in hospitality, including serving as a vice president at InterContinental Hotels Group (IHG) for over three years. He joins Orascom after a two-year stint as a director at business consultancy Aspectus Associates.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> HELIOPOLIS HOUSING APPOINTS NEW CHAIRMAN- <\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Heliopolis Housing and Development <\/strong> has appointed <strong> Mohamed El Menshawy <\/strong> as its <strong> chairman<\/strong>, the state-owned real estate developer said in <a target=\"_blank\" href=\"https:\/\/ent.news\/2023\/9\/816.pdf\" style=\"\" rel=\"noopener\">a statement (pdf)<\/a> <a target=\"_blank\" href=\"https:\/\/ent.news\/2023\/9\/816.pdf\" style=\"\" rel=\"noopener\"><\/a> to the EGX on Sunday. El Menshawy takes over from Khaled El Adli, who will continue serving as a member of the board of directors, the statement said. <\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/development-finance\/\">development finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/heliopolis-housing-and-development\/\">Heliopolis Housing and Development<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/marina-wes\/\">Marina Wes<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/moves\/\">moves<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/orascom-development\/\">Orascom Development<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/orascom-hotels-management\/\">Orascom Hotels Management<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/real-estate\/\">real estate<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/stephane-guimbert\/\">Stephane Guimbert<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/world-bank\/\">World Bank<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"606172 advertiser\" class=\"issue-section enterprise-adv\">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                            \"\r\n            id=\"606172\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/09\/12\/606172\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-606172\" class=\"content-area-description single-story post-606172 post type-post status-publish format-standard hentry category-advertiser wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><span style=\"font-weight:400;\"><a href=\"https:\/\/imagine.sodic.com\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/7\/927.jpg?ssl=1\"><\/a><\/span><\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"606173\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"606173\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">6<\/div>\r\n\r\n                    <p class=\"f-graphik\">LAST NIGHT\u2019S TALK SHOWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/09\/12\/storm-daniel-topped-the-airwaves-last-night\/\">\r\n                            Storm Danial disaster in Libya dominates the conversation on Egypt\u2019s talk shows                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/09\/12\/storm-daniel-topped-the-airwaves-last-night\/\" target=\"_blank\">\n                    Open in new tab   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data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/09\/12\/storm-daniel-topped-the-airwaves-last-night\/832-jpg-4\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/9\/832.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"832.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/9\/832.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/9\/832.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-606173\" class=\"content-area-description single-story post-606173 post type-post status-publish format-standard has-post-thumbnail hentry category-last-nights-talk-shows tag-enterpriseam tag-last-nights-talk-shows tag-libya tag-natural-disasters wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/9\/.1005c123-448a-4173-a397-9aca4171f8cd.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Storm Daniel\u2019s impact on Libya dominated the airwaves last night: <\/strong>Masaa DMC (watch, runtime: <a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=sk4iOiHv1gE\" style=\"\" rel=\"noopener\">1:37<\/a> | <a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=Pm7OQlGTjB0\" style=\"\" rel=\"noopener\">3:23<\/a> | <a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=2-i24BCON0g\" style=\"\" rel=\"noopener\">0:46<\/a>), Ala Masouleety (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=tCjUbv80Abo\" style=\"\" rel=\"noopener\">watch, runtime: 7:57<\/a>) and Al Hayah Al Youm (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=9Hn7Y8P2fkE\" style=\"\" rel=\"noopener\">watch, runtime: 8:04<\/a>) all providing coverage of the disaster, which authorities in the east of the country say has left more than 2k people dead. The pundits also covered the responses from <a target=\"_blank\" href=\"https:\/\/bit.ly\/3Pyukln\" style=\"\" rel=\"noopener\">President El Sisi<\/a> and the <a target=\"_blank\" href=\"https:\/\/bit.ly\/468UikM\" style=\"\" rel=\"noopener\">Foreign Ministry<\/a>, which both offered their condolences to the victims yesterday.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/last-nights-talk-shows\/\">LAST NIGHT\u2019S TALK SHOWS<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/libya\/\">Libya<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/natural-disasters\/\">natural disasters<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"606175\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">      \r\n<section id=\"advertiser\" class=\"enterprise-adv issue-section\">\r\n    <div class=\"issue-section__content\" style=\"flex-direction: column;\">\r\n  \r\n                <h4 class=\"wp-block-heading has-text-align-center has-normal-font-size\">\r\n                <span class=\"has-primary-color stk-highlight\">This publication is proudly sponsored by<\/span><\/h4>\r\n                \r\n\r\n                \r\n                <div class=\"wp-block-stackable-carousel alignwide stk-block-carousel stk--is-slide stk--infinite-scroll stk--arrows-justify-space-between 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stk-block-column__content stk-container stk-46c5f99-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-46c5f99-inner-blocks\">\r\n            <div class=\"issue-sponsor-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/240922.png?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/www.hsbc.com.eg\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/27489.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Opening up a world of opportunity<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        \r\n            <div class=\"wp-block-stackable-column 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class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"606176\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">7<\/div>\r\n\r\n                    <p class=\"f-graphik\">EGYPT IN THE NEWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/09\/12\/the-global-press-are-still-focused-on-the-gerd\/\">\r\n                            The completion of the GERD\u2019s filling is leading the conversation on Egypt internationally                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img 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   <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/09\/12\/the-global-press-are-still-focused-on-the-gerd\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/9\/819.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"606177\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/09\/12\/the-global-press-are-still-focused-on-the-gerd\/819-jpg-7\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/9\/819.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"819.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/9\/819.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/9\/819.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-606176\" class=\"content-area-description single-story post-606176 post type-post status-publish format-standard has-post-thumbnail hentry category-egypt-in-the-news tag-city-of-the-dead tag-egypt-ethiopia-relations tag-enterpriseam tag-gerd tag-politics wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/9\/.d407ce39-830e-492b-a36c-11e3a5c0e818.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> The GERD is leading the conversation on Egypt in the foreign press this morning<\/strong>, after Ethiopian Prime Minister Abiy Ahmed <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f60a07c8-be6e-48c5-a4dd-0be64031717e\" style=\"\" rel=\"noopener\">said Sunday<\/a> that the country had completed the fourth and final phase of filling the reservoir. Egypt condemned the move and accused Ethiopia of breaching international law. This comes a week after Cairo <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/6ec19832-2530-4f99-be06-2aae1cd3cd21\" style=\"\" rel=\"noopener\">hosted<\/a> the first round of GERD talks with Ethiopia and Sudan in more than two years, a negotiating process which was recently rebooted after Egypt and Ethiopia\u2019s leaders <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a70fe3ef-254a-41e4-8335-5db25860d457\" style=\"\" rel=\"noopener\">agreed<\/a> to finalize an agreement by October. (<a target=\"_blank\" href=\"https:\/\/www.bbc.com\/news\/world-africa-66771155\" style=\"\" rel=\"noopener\">BBC<\/a> | <a target=\"_blank\" href=\"https:\/\/www.dw.com\/en\/ethiopia-finishes-filling-reservoir-of-disputed-mega-dam\/a-66773512\" style=\"\" rel=\"noopener\">Deutsche Welle<\/a> | <a target=\"_blank\" href=\"https:\/\/www.rfi.fr\/en\/africa\/20230911-egypt-brands-ethiopia-s-move-to-fill-nile-mega-dam-as-illegal\" style=\"\" rel=\"noopener\">RFI<\/a> | <a target=\"_blank\" href=\"https:\/\/www.wionews.com\/world\/egypt-protests-ethiopias-gerd-filling-labels-move-illegal-634846\" style=\"\" rel=\"noopener\">WION<\/a>)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> City of Bridges: <\/strong> There\u2019s more coverage of the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/16a67ea4-a52b-41a0-994d-d737c2f7f9d0\" style=\"\" rel=\"noopener\">ongoing demolition of parts of<\/a> <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/16a67ea4-a52b-41a0-994d-d737c2f7f9d0\" style=\"\" rel=\"noopener\">Cairo<\/a> <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/16a67ea4-a52b-41a0-994d-d737c2f7f9d0\" style=\"\" rel=\"noopener\">\u2019s City of the Dead<\/a> as authorities prepare to raze more tombs to make way for flyovers. (<a target=\"_blank\" href=\"https:\/\/apnews.com\/article\/egypt-cemetery-highways-cairo-city-dead-4b14e617e154fec1ec2dc34f5890d2c9\" style=\"\" rel=\"noopener\">Associated Press<\/a> | <a target=\"_blank\" href=\"https:\/\/www.theguardian.com\/commentisfree\/2023\/sep\/11\/egypt-saudi-arabia-megacity-human-cost\" style=\"\" rel=\"noopener\">The Guardian<\/a>)<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/city-of-the-dead\/\">City of the Dead<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egypt-ethiopia-relations\/\">Egypt-Ethiopia relations<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/gerd\/\">GERD<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/politics\/\">politics<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"606178\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"606178\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">8<\/div>\r\n\r\n                    <p class=\"f-graphik\">Also on our Radar<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/09\/12\/govt-to-up-wheat-cultivation-area-next-year-following-disappointing-2023-harvest\/\">\r\n                            Egypt to up wheat cultivation area next year following disappointing 2023 harvest. PLUS: Orange, Qardy, Air Cairo, airport updates                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/09\/12\/govt-to-up-wheat-cultivation-area-next-year-following-disappointing-2023-harvest\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"606179\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/09\/12\/govt-to-up-wheat-cultivation-area-next-year-following-disappointing-2023-harvest\/835-jpg-7\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/9\/835.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"835.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/9\/835.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/9\/835.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-606178\" class=\"content-area-description single-story post-606178 post type-post status-publish format-standard has-post-thumbnail hentry category-also-on-our-radar tag-air-cairo tag-also-on-our-radar tag-aviation tag-cit tag-civil-aviation-ministry tag-commodities tag-enterpriseam tag-financial-inclusion tag-financial-services tag-infrastructure tag-logistics tag-microfinance tag-mohamed-abbas-helmy tag-non-banking-financial-services tag-orange-egypt tag-orascom-development-egypt tag-qardy tag-sandah tag-smes tag-transport tag-wheat wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/9\/.95b0e10c-df38-48f6-8924-a8b574f75f6c.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> COMMODITIES- <\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Gov\u2019t seeks to boost area cultivated with wheat by 25% in 2024: <\/strong>The government aims to increase the amount of land allocated to wheat farming by 25% to 4 mn feddans next harvest season, <a target=\"_blank\" href=\"https:\/\/bit.ly\/3Lkkpxr\" style=\"\" rel=\"noopener\">A<\/a> <a target=\"_blank\" href=\"https:\/\/bit.ly\/3Lkkpxr\" style=\"\" rel=\"noopener\">sharq Busine<\/a> <a target=\"_blank\" href=\"https:\/\/bit.ly\/3Lkkpxr\" style=\"\" rel=\"noopener\">ss<\/a> reports, citing an anonymous government official. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Remember: <\/strong>The amount of wheat the government bought in this year\u2019s harvest reportedly <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a2b85b33-08f0-40af-995f-f72ff64b189b\" style=\"\" rel=\"noopener\">fell<\/a> <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a2b85b33-08f0-40af-995f-f72ff64b189b\" style=\"\" rel=\"noopener\">by 10%<\/a> y-o-y to 3.4 mn tons. One government official was quoted as telling local media the drop was partly due to a c. 12% y-o-y fall in the area cultivated with wheat this season, as farmers shifted their focus to growing crops used for livestock feed. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> TRANSPORT- <\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Air Cairo adds new route between Sharm and Madrid: <\/strong>Low-cost air carrier Air Cairo will begin operating weekly flights between Madrid and Sharm El Sheikh starting 29 October, it said in <a target=\"_blank\" href=\"https:\/\/bit.ly\/3PA0KMs\" style=\"\" rel=\"noopener\">a<\/a> <a target=\"_blank\" href=\"https:\/\/bit.ly\/3PA0KMs\" style=\"\" rel=\"noopener\">stateme<\/a> <a target=\"_blank\" href=\"https:\/\/bit.ly\/3PA0KMs\" style=\"\" rel=\"noopener\">nt<\/a> yesterday. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> INFRASTRUCTURE- <\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Airport updates: <\/strong> Civil Aviation Minister Mohamed Abbas Helmy held a presser in Hurghada yesterday to share updates on projects to expand several of the country\u2019s airports and increase tourist numbers. Among the highlights:<\/p>\n<ul>\n<li><strong> Quadrupling capacity at Alex airport: <\/strong>The annual capacity of Alexandria\u2019s Borg El Arab airport will rise to 6 mn passengers from 1.5 mn currently when the ministry opens a new terminal next year. (<a target=\"_blank\" href=\"https:\/\/twitter.com\/AsharqbEGY\/status\/1701203944905535922?s=20\" style=\"\" rel=\"noopener\">Asharq Business<\/a>)<\/li>\n<li><strong> Flying south: <\/strong>Berenice International Airport is ready to receive international and domestic flights. Berenice, an ancient seaport, is about 140 km south of Marsa Alam. The civilian terminal was built as part of a larger military facility and can handle some 600 passengers per hour. (<a target=\"_blank\" href=\"https:\/\/bit.ly\/3PcLq74\" style=\"\" rel=\"noopener\">Al<\/a> <a target=\"_blank\" href=\"https:\/\/bit.ly\/3PcLq74\" style=\"\" rel=\"noopener\">Mal<\/a>)<\/li>\n<li><strong> St. Catherine expansion: <\/strong>The ministry expects to complete the expansion of the St. Catherine International Airport by April 2024. Capacity will rise to 600 passengers an hour from 80 currently after a new terminal is opened and the existing one is expanded. (<a target=\"_blank\" href=\"https:\/\/bit.ly\/3sMgtiq\" style=\"\" rel=\"noopener\">A<\/a> <a target=\"_blank\" href=\"https:\/\/bit.ly\/3sMgtiq\" style=\"\" rel=\"noopener\">l Mal<\/a>)<\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Remember: <\/strong> The government is doing all it can to expand the tourism sector and maximize hard-currency revenues as it looks to pull the country out of a currency crisis. <strong> Tourism is booming right now: <\/strong>Egypt welcomed a record 7 mn tourists in 1H 2023, up more than 40% on the same period last year, putting it on track to meet its goal of attracting <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/17592ef1-2055-49cb-94c1-4ab525d57ba5\" style=\"\" rel=\"noopener\">15 mn people<\/a> this year.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> LOGISTICS- <\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Moves to unclog truck traffic at the Egypt-Sudan border: <\/strong> The General Authority for Land and Dry Ports has created two mini logistics zones in Wadi Karkar and Abu Simbel to reduce the pile up of trucks and cars at the Arqin and Qastal border crossings between Egypt and Sudan, the Transport Ministry <a target=\"_blank\" href=\"https:\/\/bit.ly\/3R9Sunw\" style=\"\" rel=\"noopener\">said<\/a> Thursday. The zones will speed up the provision of key supplies such as water, food, and medical aid to civilians in the conflict-hit country, the statement reads. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> NBFS- <\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Microfinance provider <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.sandah.org\/en\/\" style=\"\" rel=\"noopener\">Sandah<\/a><\/strong><strong> will offer loans to local MSMEs through online lending marketplace <\/strong><strong><a target=\"_blank\" href=\"https:\/\/eqardy.com\/home\" style=\"\" rel=\"noopener\">Qardy<\/a><\/strong> under a partnership agreement signed by the two firms, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2023\/9\/667.pdf\" style=\"\" rel=\"noopener\">joint statement (pdf)<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> TELECOMS- <\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Orange x O West: <\/strong>Orange Egypt will provide Orascom Development Egypt\u2019s (ODE) O West project with digital infrastructure and telecom services under a 10-year agreement, according to an ODE <a target=\"_blank\" href=\"https:\/\/ent.news\/2023\/9\/781.pdf\" style=\"\" rel=\"noopener\">statement (pdf)<\/a> on Sunday. Under the partnership, Orange will build a fiber network to equip O West with high-speed internet.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/air-cairo\/\">Air Cairo<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/also-on-our-radar\/\">ALSO ON OUR RADAR<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/aviation\/\">aviation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/cit\/\">CIT<\/a>\n                <!-- <span 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class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/logistics\/\">logistics<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/microfinance\/\">microfinance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/mohamed-abbas-helmy\/\">Mohamed Abbas Helmy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/non-banking-financial-services\/\">non-banking financial services<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/orange-egypt\/\">Orange Egypt<\/a>\n                <!-- <span 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href=\"https:\/\/enterpriseam.com\/egypt\/tag\/wheat\/\">wheat<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"606180\" class=\"issue-section markets\">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"606180\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">9<\/div>\r\n\r\n                    <p class=\"f-graphik\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/09\/12\/arm-to-close-ipo-order-book-early-on-huge-investor-demand\/\">\r\n            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data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"833.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/9\/833.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/9\/833.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-606180\" class=\"content-area-description single-story post-606180 post type-post status-publish format-standard has-post-thumbnail hentry category-planet-finance tag-aldar-properties tag-alibaba tag-arm tag-china tag-enterpriseam tag-financial-markets tag-planet-finance tag-softbank wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<aside>\t\t\t<div\r\n\t\t\t\t\t\t\t\tclass=\"newspack-popup-container newspack-popup hidden  newspack-inline-popup  newspack-lightbox-no-border   \"\r\n\t\t\t\trole=\"button\"\r\n\t\t\t\ttabindex=\"0\"\r\n\t\t\t\tstyle=\"background-color:#FFFFFF;color:#000\"\r\n\t\t\t\tid=\"id_408150\"\r\n\t\t\t\tdata-segments=\"\"\r\n\t\t\t\tdata-frequency=\"0,0,0,month\"\r\n\t\t\t>\r\n\t\t\t\t\n<div class=\"wp-block-group has-light-gray-background-color has-background\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-container-core-group-is-layout-ef38739e wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group is-content-justification-center is-nowrap is-layout-flex wp-container-core-group-is-layout-94bc23d7 wp-block-group-is-layout-flex\"><div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408151.svg\" alt=\"\" class=\"wp-image-408151\"\/><\/figure>\n<\/div><\/div>\n<\/div><\/div>\n\t\t\t<\/div>\r\n\t\t<\/aside>\n<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/9\/.e56655e8-7bc0-4d86-a96c-ee1f8bb6442f.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong> Arm IPO book-building to close early following huge investor demand: <\/strong>Banks will stop taking orders for shares in Arm\u2019s USD 50 bn IPO today due to huge investor demand. The institutional offering was reportedly 10x oversubscribed as of yesterday, leading the banks underwriting the sale to close the book a day early. The SoftBank-owned chip designer will still price its shares on Wednesday, and are expected to be at the top end of the USD 47-51 price range \u2014 or perhaps higher than that. <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-09-11\/arm-s-ipo-orders-are-already-oversubscribed-by-10-times?srnd=premium\" style=\"\" rel=\"noopener\">Bloomberg<\/a>, <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/3bc383db-a0c2-4e30-81c4-d09a185605c2\" style=\"\" rel=\"noopener\">Financial Times<\/a> and <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/markets\/deals\/softbanks-arm-eyes-pricing-ipo-top-range-or-above-sources-2023-09-10\/#:~:text=Arm%20is%20discussing%20the%20possibility,IPO's%20oversubscription%2C%20the%20sources%20said.\" style=\"\" rel=\"noopener\">Reuters<\/a> have the latest.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Caveat emptor: <\/strong> Retail investors might want to tread carefully according to this <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/markets\/deals\/retail-investors-jumping-arms-blockbuster-ipo-is-risky-business-2023-09-11\/\" style=\"\" rel=\"noopener\">Reuters<\/a> piece, which looks at the poor returns suffered by individuals who bought into the biggest IPOs of the past four years.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> AND- Aldar Estates buys up First Abu Dhabi Bank\u2019s properties unit: <\/strong> The property management arm of Emirati real estate giant Aldar will acquire FAB Properties in a move that will add 22k residential units located in the UAE to its portfolio, it <a target=\"_blank\" href=\"https:\/\/ent.news\/2023\/9\/795.pdf\" style=\"\" rel=\"noopener\">said (pdf)<\/a> yesterday. This brings Aldar\u2019s platform to 157k residential units under management in total, and facilities management contracts valued at AED 2.5 bn (USD 681 mn). <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Remember: <\/strong>Aldar Estates became the region\u2019s largest integrated property and facilities management company <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7f3d8eb0-c16d-47ab-b40f-a52cef67fbf0\" style=\"\" rel=\"noopener\">earlier this summer<\/a> after International Holding Company (IHC), ADQ subsidiary ADNEC Group, and Aldar Properties agreed to merge their businesses into the platform.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> ALSO WORTH NOTING- <\/strong><\/p><ul>\n<li><strong> Euro gas prices surge as Australia LNG strikes go ahead: <\/strong> European gas prices surged 10% on Friday after workers at Australian LNG facilities began to strike. Traders are jittery about how the loss of Australian LNG, which accounts for around 10% of global supply, could impact European energy prices. (<a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2023\/09\/08\/gas-european-prices-jump-as-strikes-start-at-australia-lng-facilities.html\" style=\"\" rel=\"noopener\">CNBC<\/a> | <a target=\"_blank\" href=\"https:\/\/edition.cnn.com\/2023\/09\/08\/energy\/chevron-australia-strike-lng\/index.html\" style=\"\" rel=\"noopener\">CNN<\/a>)<\/li>\n<li><strong> EU cuts growth forecast as Germany heads for recession: <\/strong>The European Commission has reduced its 2023 growth forecast to 0.8% from 1% in May, with the German economy now expected to fall into recession this year. (<a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/83007349-1d2b-479d-b18e-a1f6999b5a0a\" style=\"\" rel=\"noopener\">Financial Times<\/a>)<\/li>\n<li><strong> Alibaba shares fall 4% after head of its cloud unit quits: <\/strong> Daniel Zhang stepped down in a surprise move yesterday, unsettling investors in the Chinese tech giant, which is looking to IPO its cloud unit later this year. (<a target=\"_blank\" href=\"https:\/\/www.reuters.com\/technology\/alibaba-shares-slide-4-after-outgoing-ceo-quits-cloud-unit-2023-09-11\/\" style=\"\" rel=\"noopener\">Reuters<\/a> | <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/fcce1d3e-993e-464e-81ac-06fc484fad62\" style=\"\" rel=\"noopener\">Financial Times<\/a>) <\/li>\n<\/ul><p><a target=\"_blank\" id=\"t.d3fdfb14b898232f8283ba7bf42eb97977b78492\" rel=\"noopener\"><\/a> <a target=\"_blank\" id=\"t.0\" rel=\"noopener\"><\/a> <\/p><div class=\"stock-ticker-panel\">\n<table class=\"table stock-ticker-table table-striped markets-table\">\n<tbody>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong> EGX30 <\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">19,279<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-1.5% (YTD: +32.1%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong> USD (CBE) <\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Buy 30.83<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Sell 30.96<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong> USD at CIB <\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Buy 30.85<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Sell 30.95<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong> Interest rates CBE <\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">19.25% deposit<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">20.25% lending<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong> Tadawul <\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">11,235<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.7% (YTD: +7.2%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong> ADX <\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">9,713<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.2% (YTD: -4.9%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong> DFM <\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">4,070<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.1% (YTD: +22.0%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong> S&amp;P 500 <\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">4,487<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.7% (YTD: +16.9%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong> FTSE 100 <\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">7,497<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.3% (YTD: +0.6%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong> Euro Stoxx 50 <\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">4,254<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.4% (YTD: +12.1%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong> Brent crude <\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 90.62<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">0.0%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong> Natural gas <\/strong>(Nymex)<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 2.62<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.4%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong> Gold <\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 1,945.50<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.1%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong> BTC <\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 25,090<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-3.0% (YTD: +51.9%)<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> THE CLOSING BELL- <\/strong><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> The EGX30 fell 1.5% at yesterday\u2019s close <\/strong> on turnover of EGP 3.2 bn (51.1% above the 90-day average). Foreign investors were net sellers. The index is up 32.1% YTD.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> In the green: <\/strong>TMG Holding (+1.5%), Heliopolis Housing (+1.1%) and Abu Qir Fertilizers (+0.1%).<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> In the red: <\/strong><span>\u064eQalaa Holdings (-4.0%), E-finance (-3.6%) and Elsewedy Electric (-3.0%).<\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Asian markets are largely in the red this morning <\/strong>after an overnight tech rally in New York, <a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2023\/09\/12\/asia-stock-markets-today-live-updates.html\" style=\"\" rel=\"noopener\">CNBC reports<\/a>. Futures suggest a mixed open in Europe later this morning, while the NYSE and Nasdaq look set to dip into the red at the opening bell, with the TSE looking on track for a healthier start to the trading day.<\/p>\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/aldar-properties\/\">Aldar Properties<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/alibaba\/\">Alibaba<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/arm\/\">Arm<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/china\/\">China<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/financial-markets\/\">Financial Markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/planet-finance\/\">Planet Finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/softbank\/\">SoftBank<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"606182\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"606182\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">10<\/div>\r\n\r\n                    <p class=\"f-graphik\">AROUND THE WORLD<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/09\/12\/cry-havoc-and-let-slip-the-dogs-of-war\/\">\r\n                            40+ civilians killed in Sudan airstrike + Niger junta accuses Paris of plotting attack                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/09\/12\/cry-havoc-and-let-slip-the-dogs-of-war\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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(<a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/africa\/least-40-killed-airstrike-southern-khartoum-market-local-volunteers-2023-09-10\/\" style=\"\" rel=\"noopener\">Reuters<\/a>)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Niger coup leaders accuse France of plotting military attack: <\/strong>The junta that seized power in Niger in July has accused France of moving troops in neighboring West African countries ahead of a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f3832a5a-a3c3-4fb0-a385-2b4490831a59\" style=\"\" rel=\"noopener\">possible military intervention<\/a>. (<a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/europe\/macron-says-g20-declaration-not-victory-for-russia-2023-09-10\/\" style=\"\" rel=\"noopener\">Reuters<\/a>)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Nato is bringing back the Cold War-era military drills: <\/strong> Nato will hold its largest military exercise since the Cold War next year, as it rehearses responses to potential confrontation with Russia. (<a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/6c7a6941-2e0c-46d0-baf5-f53b681d2936\" style=\"\" rel=\"noopener\">Financial Times<\/a>)<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/2023-sudan-conflict\/\">2023 Sudan conflict<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/around-the-world\/\">Around the World<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/nato\/\">NATO<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/niger\/\">Niger<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sudan\/\">Sudan<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<div class=\"alignfull vertical-section wide-section going-green wp-block-group issue-section\" id=\"606184\">\r\n    <div class=\"issue-section__content\">\r\n        <div class=\"alignwide wp-block-columns\">\r\n            <div class=\"wp-block-column sidebar-vertical-info\" style=\"flex-basis:22.8%\">\r\n                <figure class=\"wp-block-image size-full\">\r\n                                            <img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27465.svg\" style=\"width:80%\" alt=\"\" >\r\n                                    <\/figure>\r\n                <p>\r\n                    Our weekly deep dive into the green economy and ESG issue in Egypt.                <\/p>\r\n                <figure class=\"wp-block-image size-full mt-0 mb-0 img-white-bg\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27483.png?ssl=1\" alt=\"\"><\/figure>\r\n                <p class=\"has-text-color has-link-color\">\r\n                    Published every Tuesday in EnterpriseAM.                <\/p>\r\n                <div class=\"wp-block-buttons mt-0\">\r\n                    <div class=\"wp-block-button\">\r\n                        <a class=\"wp-block-button__link has-background wp-element-button\" href=\"https:\/\/enterpriseam.com\/egypt\/goinggreen\/\">\r\n                            Read going Green                        <\/a>\r\n                    <\/div>\r\n                <\/div>\r\n            <\/div>\r\n            <div class=\"wp-block-column issue-section\">\r\n                <div class=\"story-section\">\r\n                    <div class=\"issue-story-header text-center\">\r\n                        <div class=\"index-number\">11<\/div>\r\n\r\n                        <p class=\"f-graphik\">Going Green<\/p>\r\n                        <h3 class=\"story-title\"><a href=\"https:\/\/enterpriseam.com\/egypt\/goinggreens\/climate-change-threatens-our-energy-infrastructure-how-can-the-sector-build-resilience\/\">\r\n                            Climate change threatens Egypt\u2019s energy infrastructure. How can the sector build resilience?<\/a>\r\n                        <\/h3>\r\n\r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/goinggreens\/climate-change-threatens-our-energy-infrastructure-how-can-the-sector-build-resilience\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/goinggreens\/climate-change-threatens-our-energy-infrastructure-how-can-the-sector-build-resilience\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/egypt\/goinggreens\/climate-change-threatens-our-energy-infrastructure-how-can-the-sector-build-resilience\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Climate change threatens our energy infrastructure. 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But as the effects of climate change begin to make themselves felt \u2014 including rising temperatures, more rainfall, and a decline in freshwater resources \u2014 the efficiency of both traditional fossil-fuel and renewable power plants is set to take a hit, writes the International Energy Agency (IEA) in its 2023 <a target=\"_blank\" href=\"https:\/\/www.iea.org\/reports\/climate-resilience-for-energy-transition-in-egypt\" style=\"\" rel=\"noopener\">Climate Resilience for Energy Transition in Egypt<\/a> report. So what does a changing climate mean for our energy sector and how can we mitigate the risk?<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Rising sea levels threaten coastal plants in the long term: <\/strong> Much of Egypt\u2019s energy infrastructure is located in coastal areas exposed to coastal erosion, storm surges, and flooding thanks to sea level rises, says the IEA. Many plants are located along the north coast, the Nile Delta, and in Sinai, all places that could be partially submerged by 2100. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> The scale of the problem: <\/strong>Half of the country\u2019s oil refineries, some 39% of our gas plants, and 7% of oil power plants are located in low-elevation areas (less than 10 meters above sea level). Most of those facilities are projected to be exposed to some 0.4-0.6 meters of sea level rise in the time from 2081-2100, putting them at risk of physical damage. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Higher temps = lower generation for wind, solar power: <\/strong>\u201cThe generation efficiency of solar PV and wind power plants, which are expected to grow rapidly in Egypt\u2019s power mix, could degrade in a warmer climate, particularly during heatwaves,\u201d reports the IAE. Solar and wind infrastructure \u2014 which the IEA says is \u201cgenerally designed for conditions of around 25 degrees celsius\u201d \u2014 is set to endure more extremely hot days (above temperatures of 35 degrees) as the century nears an end. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Egyptian renewables plants are especially vulnerable: <\/strong>More than 80% of our solar plants will see at least 20 and potentially over 60 additional extremely hot days annually in 2080-2100. For wind, the outlook is even worse \u2014 with all of our wind plants forecast to see at least 20 and potentially more than 80 extremely hot days annually. This level of heat stress is higher than the global average \u2014 less than 40% of solar plants globally and only 7% of wind plants are expected to be exposed to this level of heat stress. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> That could be a concern for our whopping pipeline of large-scale wind farms: <\/strong>The government has signed agreements worth bns of USD with a number of companies to build a total of <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/1ebf21fb-3f6b-40ff-8ee9-c3971b02df93\" style=\"\" rel=\"noopener\">28 GW of mega wind farms<\/a> in Sohag governorate. Average temperatures in Sohag now exceed the 35-degree threshold for a full seven months of the year and are already roughly 2 degrees higher than they were in 1979, according to publicly available meteorological data. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Our natgas plants need water and heat: <\/strong>Varying climates across the country mean that while parts of Egypt will be wetter in future, other areas will become drier, according to the IEA. A third of our natgas plants are expected to see a significant increase in consecutive dry days, compared with some 5-8% of natgas plants globally. Natgas plants rely on freshwater as their main cooling source \u2014 which the report says could pose problems in a drier climate, where competition for freshwater resources is fiercer due to population growth and economic development. Hotter temperatures also lower natgas plant performance by reducing the air mass flow that enters gas turbine compressors, the IEA says. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> More rainfall could bring more hydropower generation \u2014 but comes with flooding risks: <\/strong>While some natgas plants will see drier weather, most of our hydropower plants are forecast to experience a wetter climate as precipitation and water flow where they are located increases, says the IAE. Hydropower generation capacity is expected to increase by between 2.4-7.5% depending on the emissions scenario by 2060-2099. That said, heavy rainfall and flooding resulting from increased precipitation could physically damage hydropower plants thanks to sediment and floating debris. The IEA predicts that Egyptian hydropower plants could see maximum one-day rainfall increase by as much as 40% in 2080-2100 \u2014 a level of risk only faced by 10% of hydropower plants globally.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Hotter temps also mean higher energy demand: <\/strong>Cooling systems already cause a huge seasonal strain on our energy grid \u2014 high demand for ACs was <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7db6d0ec-6a2c-429f-b240-a34fa57dfddf\" style=\"\" rel=\"noopener\">partly to blame<\/a> for the rolling blackouts the country is witnessing this summer.\u201cDuring the peak summer months, 50% of the electric power goes to air conditioning,\u201d <a target=\"_blank\" href=\"https:\/\/www.unep.org\/news-and-stories\/story\/it-bakes-egypt-looks-cooling-power-sea-help\" style=\"\" rel=\"noopener\">says<\/a> UNEP consultant and head of the Egyptian District Cooling Code, Alaa Olama. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Demand for cooling systems is set to surge in the coming decades <\/strong>as temperatures increase in Egypt by a higher factor than the global average by 2100, writes the IAE. By 2081-2100, Egypt could see its temperatures rise by between 2.5-6 degrees depending on the emissions scenario. Hotter weather will combine with increased urbanization and a higher population to boost demand for cooling \u2014 making it crucial we find ways to reduce the energy spend of cooling systems as well as switch to powering them with renewables. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> SO, WHAT CAN WE DO ABOUT IT? <\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> The IEA wants the energy sector to take heed: <\/strong>\u201cGiven that Egypt is projected to face a notable increase in multiple climate hazards by the end of this century, decisions on future energy systems need to be informed by accurate information on climate risks and impacts,\u201d the IEA says. \u201cDecision makers in the energy sector need to consider climate risks when they determine the energy mix, locations, generation and cooling technologies, and strategies for operation and maintenance\u201d of their plants. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Some coastal areas are more vulnerable than others: <\/strong> Measures against sea level rises in the form of maritime walls, submersible barriers, soil fixation, anti-flood structures, and nature-based solutions are the focus of the <a target=\"_blank\" href=\"https:\/\/iczmegyptmaps.ihcantabria.com\/#:~:text=The%20Integrated%20Coastal%20Zone%20Management,the%20Mediterranean%20Coast%20of%20Egypt.\" style=\"\" rel=\"noopener\">Integrated Coastal Zone Management in the Northern Coast of Egypt<\/a> initiative. The study identified areas exposed to the physical impacts of coastal erosion, coastal flooding, and other hazards under a worst-case scenario for global warming, which energy companies could utilize when planning future power plants and refineries.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Newer power plants are already using more water-efficient options: <\/strong>Egypt\u2019s three Siemens-built power plants have all introduced measures to reduce the use of fresh water for cooling, reports the IEA. The 4.8-GW Beni Suef power plant \u2014 which is <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/99547fd0-f6f6-4c75-adb8-13465d399413\" style=\"\" rel=\"noopener\">up for a sale<\/a> under the government\u2019s privatization program \u2014 has a closed-loop cooling tower system that reuses cooling water. The New Administrative Capital plant adopted an air-cooling system with 12 giant fans, the first of its kind in the country. The Burullus plant\u2019s wet cooling towers are dependent on Mediterranean Sea water instead of freshwater.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> We\u2019re on the right track: <\/strong> The IEA praises government plans to reduce emissions and boost renewables, saying our sustainable development strategy, national climate strategy, and the Nationally Determined Contributions (NDC) goals Egypt has submitted to the UN all identify \u201ceffective measures for climate resilience.\u201d <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> But we need more data: <\/strong>More could be done to monitor progress on the ground as well as changing climate risks, the IEA adds. The sector should track achievements on \u201cclimate change impact assessments, diversification of energy technologies, financing and investment in climate resilience, and institutional and technical capacity building,\u201d the IEA suggests.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Your top green economy stories for the week: <\/strong><\/p>\n<ul>\n<li><strong> The dam is full: <\/strong> Ethiopia\u2019s prime minister <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f60a07c8-be6e-48c5-a4dd-0be64031717e\" style=\"\" rel=\"noopener\">announced Sunday<\/a> that the country has completed the fourth and final phase of filling the Grand Ethiopian Renaissance Dam\u2019s reservoir, drawing condemnation from Egypt who accused it of breaching international law.<\/li>\n<li><strong> Green hydrogen council greenlit: <\/strong> Prime Minister Moustafa Madbouly issued a decision to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a2b85b33-08f0-40af-995f-f72ff64b189b\" style=\"\" rel=\"noopener\">set up<\/a> a council for green hydrogen that was approved by the cabinet late last month. <\/li>\n<li><strong> Interest in north coast solar plants: <\/strong> More than six consortiums <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a2b85b33-08f0-40af-995f-f72ff64b189b\" style=\"\" rel=\"noopener\">have expressed<\/a> <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a2b85b33-08f0-40af-995f-f72ff64b189b\" style=\"\" rel=\"noopener\">interest<\/a> in a tender to establish five solar power plants on the north coast.<\/li>\n<li><strong> Integrating renewables into the national grid: <\/strong> The Egyptian Electricity Transmission Company has contracted Swedish consultancy AFRY to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/54b2cff0-e41b-49ce-96c5-41964b797d44\" style=\"\" rel=\"noopener\">conduct a feasibility study<\/a> on connecting renewable energy sources to the national energy grid. <\/li>\n<\/ul>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/climate\/\">Climate<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/energy\/\">energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/going-green\/\">going green<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/renewables\/\">renewables<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n\r\n                    <\/div>\r\n                <\/div>\r\n            <\/div>\r\n            <div class=\"wp-block-column\" style=\"flex-basis:19.8%\"><\/div>\r\n        <\/div>\r\n    <\/div>\r\n<\/div>\n<section id=\"606186\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"calendar\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/09\/12\/606186\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-606186\" class=\"content-area-description single-story post-606186 post type-post status-publish format-standard hentry category-calendar wpautop entry\">\n\n\t\t\t<hr class=\"wp-block-separator has-text-color has-primary-color has-alpha-channel-opacity has-primary-background-color has-background is-style-wide\">\n\n\t\t<h2 class=\"wp-block-heading mt-0 has-primary-color has-text-color has-link-color has-normal-font-size\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\">\n\t\t\t<strong> CALENDAR<\/strong>\n\t\t<\/h2>\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">SEPTEMBER <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>10-12 September (Sunday-Tuesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.saharaexpo.com\/en\/home.html\" style=\"\">Sahara agriculture exhibition<\/a><\/span><span style=\"font-weight:400;\">, Egypt International Exhibition Center, Cairo.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>13-14 September (Wednesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.egypthydrogen2023.com\/\" style=\"\">Hydrogen Egypt Summit<\/a><\/span><span style=\"font-weight:400;\">, Nile Ritz Carlton, Cairo.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">13 September (Wednesday): Deadline for settling outstanding military service in FX.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>15 September (Friday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.instagram.com\/ultraibex\/\" style=\"\">Ultraibex<\/a><\/span><span style=\"font-weight:400;\"> Wadi Degla Protectorate clean-up event.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">15 September (Friday): IMF to review USD 3 bn program.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>15 September (Friday): Deadline for applications to <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/bit.ly\/3EdKj1A\" style=\"\">EGYAID scholarship program<\/a><\/span><span style=\"font-weight:400;\">.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>15 September (Friday): Deadline for FX bureaus to comply with <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5b6f9aa4-8ee9-4804-bc43-8e40fac6213c\" style=\"\">new capital requirements<\/a><\/span><span style=\"font-weight:400;\">.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>17-18 September (Sunday-Monday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.arabsecurityconference.com\/\" style=\"\">Arab Security Conference and Exhibition<\/a><\/span><span style=\"font-weight:400;\">, Nile Ritz Carlton, Cairo.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">17-19 September (Sunday-Tuesday): Sharm Rendezvous (insurance conference), Rixos Premium Seagate, Sharm ElSheikh.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>18-19 September (Monday-Tuesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/finance.enterprise.news\/\" style=\"\">Enterprise Finance Forum<\/a><\/span><span style=\"font-weight:400;\">, St. Regis Hotel, Cairo.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">19-20 September (Tuesday-Wednesday): Federal Reserve interest rate meeting. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>20-23 September (Wednesday-Saturday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.cityscapeegypt.com\/en\/home.html\" style=\"\">Cityscape Egypt<\/a><\/span><span style=\"font-weight:400;\">, Egypt International Exhibition Center, Cairo.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">21 September (Thursday): Central Bank of Egypt\u2019s Monetary Policy Committee meeting.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>23-29 September (Saturday-Friday): Engin<\/span><span style=\"font-weight:400;\">eering Export Council of Egypt Iraqi trade mission.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">25 September (Monday): Nasdaq deadline for Swvl Holdings Corp to increase its market value of publicly held shares to a minimum of USD 15 mn.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>25-26 September (Monday-Tuesday): Egypt <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/bit.ly\/43zXWDg\" style=\"\">to host<\/a><\/span><span style=\"font-weight:400;\"> the Asian Infrastructure Investment Bank\u2019s annual board meeting, Sharm El Sheikh.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">26 September (Tuesday): Prophet Muhammad\u2019s birthday (TBC).<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">26 September (Tuesday): Taqa Arabia\u2019s ordinary general assembly meeting.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">27 September (Wednesday): Deadline for bidding in the fifth phase of the investment map offered by the Industrial Development Authority (IDA).<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">27 September (Wednesday): Deadline for bidding in tender for five solar plants on north coast.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">28 September (Thursday): Eastern Company will hold an ordinary general assembly meeting to approve the company\u2019s financials for the 2022-2023 FY.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">28 September (Thursday): National holiday in observance of Prophet Muhammad\u2019s birthday (TBC).<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>28-29 September (Thursday-Friday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.southsinai.gov.eg\/News\/Details\/3067\" style=\"\">Medical Tourism Conference<\/a><\/span><span style=\"font-weight:400;\">, Sharm El Sheikh.  <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">30 September (Saturday): The start of the new academic year for Egyptian universities. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"\">30 September (Saturday): The <\/span><span style=\"font-weight:400;\">start of the new academic year for Egyptian schools. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">Signposted to happen sometime in September:<\/span><\/p>\n<ul>\n<li><span style=\"font-weight:400;\">Sustainable Debt Coalition Initiative agreed at COP27 to launch <\/span><\/li>\n<li><span style=\"font-weight:400;\">IDH to open first branch in Saudi Arabia<\/span><\/li>\n<li><span style=\"font-weight:400;\">The Egypt-Germany trade and investment joint conference in Cairo<\/span><\/li>\n<li><span>ADQ to acquire stakes in Elab, Ethydco and EDC by end of month<\/span><\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">OCTOBER <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">1-3 October (Sunday-Tuesday) International Expotec for water economics management, Egypt International Exhibition Center, Fifth Settlement, Cairo. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>2-5 October (Monday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.adipec.com\/\" style=\"\">ADIPEC 2023<\/a><\/span><span style=\"font-weight:400;\">, Abu Dhabi National Exhibition Center.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">2 October (Monday): Government meeting with investors to look into liberalizing electricity grid. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">6 October (Friday): Armed Forces Day.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>7 October (Saturday): HHD shareholders to consider NOSI\u2019s offer to acquire Heliopark land.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>9 October (Monday): The <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/narrativesummit.com\/\" style=\"\">Narrative PR Summit<\/a><\/span><span style=\"font-weight:400;\">, Somabay Red Sea.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">9-11 October (Monday-Wednesday): Arabs Savings and Financial Literacy Conference, Four Seasons Hotel.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>10-12 October ( Tuesday-Thursday) <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/eaba-com.com\/ceramica-expo\/\" style=\"\">Ceramica Expo<\/a><\/span><span style=\"font-weight:400;\">, Cairo International Convention Center.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">13 October- 20 October (Friday-Friday): The sixth edition of El Gouna Film Festival (GFF). <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">Late October-14 November: 3Q2023 earnings season.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>15-17 October (Sunday-Tuesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.autotechegypt.com\/en\/home.html\" style=\"\">Egypt Automotive Aftermarket Exhibition<\/a><\/span><span style=\"font-weight:400;\">, Cairo International Convention Center. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">26 October (Thursday): Daylight saving time ends.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>29-31 October (Sunday-Tuesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.egypt-energy.com\/en\/home.html\" style=\"\">Egypt Energy<\/a><\/span><span style=\"font-weight:400;\">, Egypt International Exhibition Center.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>29 October - 2 November (Sunday- Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.cairowaterweek.eg\/register\/\" style=\"\">Cairo Water Week<\/a><\/span><span style=\"font-weight:400;\">.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>30-31 October (Monday-Tuesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/platforms-root-technologies.com\/icec-2023\/.\" style=\"\">Intelligent Cities Exhibition and Conference<\/a><\/span><span style=\"font-weight:400;\">, Dusit Thani LakeView, Cairo. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">30-31 October (Monday-Tuesday): Global Business School Network (GBSN), American University of Cairo. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">31 October - 1 November (Tuesday-Wednesday): Federal Reserve interest rate meeting. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Signposted to happen some time in October:<\/span><\/p>\n<ul>\n<li><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/fra.gov.eg\/fra_news\/%d8%a7%d9%84%d8%b1%d9%82%d8%a7%d8%a8%d8%a9-%d8%a7%d9%84%d9%85%d8%a7%d9%84%d9%8a%d8%a9-%d8%aa%d8%b5%d8%af%d8%b1-%d9%82%d8%b1%d8%a7%d8%b1%d8%a7%d9%8b-%d8%a8%d8%b4%d8%a3%d9%86-%d8%a7%d9%84%d8%aa%d8%b2\/\" style=\"\">Deadline<\/a><\/span><span> for ins. providers to <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/edition\/am\/e4d8d8da-b406-4776-ab2a-fa796e247eab\" style=\"\">link their databases<\/a><\/span><span style=\"font-weight:400;\"> with the FRA<\/span><\/li>\n<li><span style=\"font-weight:400;\">Egyptian-Jordanian Business Council, Amman, Jordan<\/span><\/li>\n<li><span style=\"font-weight:400;\">Gov\u2019t expects to finalize sale of Gabal El Zeit wind plant<\/span><\/li>\n<li><span>October or November: Gov\u2019t expects to finalize <\/span><span style=\"\">stake sale<\/span><span style=\"font-weight:400;\"> for military-owned fuel retailer Wataniya<\/span><\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">NOVEMBER <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">2 November (Thursday): Central Bank of Egypt\u2019s Monetary Policy Committee meeting.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>9-15 November (Thursday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.intrafricantradefair.com\/en%3Futm_source%3DIATF%252027%252F02&utm_campaign%3D226fc251f7-EMAIL_CAMPAIGN_2023_05_30_12_03&utm_medium%3Demail&utm_term%3D0_-226fc251f7-%255BLIST_EMAIL_ID%255D\" style=\"\">Intra-African Trade Fair<\/a><\/span><span style=\"font-weight:400;\">, Cairo.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>14-15 November (Tuesday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/destination-africa.org\" style=\"\">Destination Africa<\/a><\/span><span style=\"font-weight:400;\">, Royal Maxim Palace Kempinski Hotel. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">15-24 November (Wednesday-Friday): Cairo International Film Festival, Cairo.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>19-22 November (Sunday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/cairoict.com\/\" style=\"\">Cairo ICT<\/a><\/span><span style=\"font-weight:400;\">, Egypt International Exhibition Center.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">22 November (Wednesday): Deadline to apply to FRA for credit rating license.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>23 November (Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.worldviewevents.com\/signup\" style=\"\">Worldview Education Fair<\/a><\/span><span>, Cairo. (<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.worldviewevents.com\/signup\" style=\"\">Register here<\/a><\/span><span style=\"font-weight:400;\">)<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">30 November-12 December (Thursday-Tuesday): COP28, Dubai.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">DECEMBER <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>10-11 December (Sunday-Monday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.eglobexpo.com\/\" style=\"\">eGlobe Expo<\/a><\/span><span>, St. Regis Almasa Hotel, Cairo.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">12-13 December (Tuesday-Wednesday): Federal Reserve interest rate meeting.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>12-14 December (Tuesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/foodafrica-expo.com\/\" style=\"\">Food Africa Expo<\/a><\/span><span style=\"font-weight:400;\">, Egypt International Exhibition Center.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">21 December (Thursday): Central Bank of Egypt\u2019s Monetary Policy Committee meeting.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">Signposted to happen sometime in December:<\/span><\/p>\n<ul>\n<li><span>Gov\u2019t expects to finalize sale of a <\/span><span style=\"\">stake in<\/span><span style=\"font-weight:400;\"> military-owned bottled drinks company Safi<\/span><\/li>\n<li><span>Gov\u2019t expects to finalize sale of Zafarana wind farm<\/span><\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">EVENTS WITH NO SET DATE <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">2023: The inauguration of the Grand Egyptian Museum.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">2H 2023: Egyptian government expected to sign agreements with a consultant for the EuroAfrica electricity interconnector.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">2H 2023: President Abdel Fattah El Sisi and Turkish President Recep Tayyip Erdogan expected to hold a summit.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>3Q 2023: E-Finance <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/bit.ly\/3MhzDCI\" style=\"\">to launch in Saudi Arabia<\/a><\/span><span style=\"font-weight:400;\">.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">4Q 2023: EGX to launch its new futures exchange.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">4Q 2023: EGX to launch a shariah-compliant index.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">End of 2023: A Developments\u2019 first phase of the Lazoghly development completed.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">2024: Standard Chartered Bank to open a branch in Egypt.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">June 2024: Gov\u2019t expects to finalize sale of Beni Suef combined-cycle power plant.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">1H 2024: Gov\u2019t expects to finalize sale of four water desalination plants.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">End of 2024: The launch of the high-speed train line linking Ain Sokhna with Al Alamein City. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>November 2024: <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0LLPJRjsu6SZLwtRHuLmCQxoAZB3xaXVXH8aYkMSEH3ae4aW6JCZaPe5h5u9nKmcRl\" style=\"\">Egypt to host<\/a><\/span><span style=\"font-weight:400;\"> the 12th session of the World Urban Forum (WUF12).<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">2Q 2025: Safaga Terminal 2 to start operations.<\/span><\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n","protected":false},"excerpt":{"rendered":"<p>Chinese companies eye Egypt, new industrial zone | New World Bank chief in Cairo | the UAE\u2019s EGP 36 bn New Cairo real estate project<\/p>\n","protected":false},"featured_media":606160,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-606159","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"af836a36-ed58-4290-91d8-7e5a663a2b54","teaser":"Chinese companies eye Egypt, new industrial zone | New World Bank chief in Cairo | the UAE\u2019s EGP 36 bn New Cairo real estate project","photo_url":"https:\/\/ent.news\/2023\/9\/844.jpg"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>The IIF would very much like it if we were to float the EGP - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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